Forbes Releases New Billionaire Rankings As Musk Reclaims No. 1 Spot (Full list)

Elon Musk has once again claimed the top spot on Forbes’ list of the world’s richest individuals, thanks to a sharp rise in Tesla shares and a strategic withdrawal from public office.

As of June 1, 2025, Musk’s estimated net worth stands at a colossal $423 billion.

According to Forbes, Musk’s fortune rose by $36 billion in May alone — largely fueled by a 23% rally in Tesla stock following news of the company’s anticipated robotaxi rollout.

The billionaire also stepped down from his role as head of the U.S. Department of Government Efficiency, a position he held under President Donald Trump.

READ ALSO: Elon Musk Joins Trump Administration To Cut Bureaucracy

Musk made the announcement alongside Trump during a press briefing in the Oval Office of the White House on May 30.

The image of Musk removing his cap as he addressed journalists next to the U.S. President underscored the end of his formal political engagement and a renewed focus on his private ventures: Tesla, SpaceX, xAI, and X.

Forbes remarked that this series of events “further cemented Musk’s status as the world’s wealthiest person by far.”

Tech fortunes dominated the latest rankings. Mark Zuckerberg climbed to second place with $224 billion, displacing Jeff Bezos, who now sits in third with $220 billion.

Zuckerberg’s rise was propelled by an 18% jump in Meta’s share price, while Bezos benefitted from an 11% boost in Amazon stock, adding $19 billion to his wealth.

Meanwhile, the global market rebound — particularly in the tech-heavy Nasdaq and S&P 500, which gained 10% and 6% respectively — provided fertile ground for wealth accumulation across the tech sector.

The remaining names in the top ten reflect familiar faces:

Larry Ellison (Oracle) – $206bn

Warren Buffett (Berkshire Hathaway) – $158bn

Bernard Arnault (LVMH) – $144bn

Larry Page (Google) – $142bn

Sergey Brin (Google) – $136bn

Steve Ballmer (Microsoft, LA Clippers) – $133bn

Amancio Ortega (Inditex/Zara) – $124bn

While most billionaires saw gains in May, Buffett experienced a notable decline.

Forbes reported that he lost $9 billion following his announcement to step down as Berkshire Hathaway CEO — a decision that triggered a 5% drop in the company’s stock. Arnault also lost $3 billion due to a slight dip in LVMH shares.

Steve Ballmer moved up the list, surpassing Ortega after Microsoft’s stock jumped by 16%, adding $15 billion to his fortune.

Ortega, on the other hand, saw only a modest $600 million gain due to flat movement in Inditex shares.

Together, the top ten richest people now control a combined $1.9 trillion — an increase of $140 billion in just one month.